A FMP project is where one of two things occurs: either we build a brand new facility, generally to replace one or more existing facilities, or we renovate the existing structure. In that case, we still bring it up to the same standard as the newly constructed facility, only within the existing structure. Generally speaking, these renovations are very invasive and have to be completed while the facility is unoccupied.
A lifecycle renewal project is one where we plan for and make a strategic upgrade at a facility to bring a specific system back to a like new condition. A good example would be roof replacement. A typical roof would have an expected useful life of 20 to 25 years. We expect our facilities to last longer than this timeframe so we plan for and replace the roof at a targeted interval when it needs replaced.
These same types of projects are required to keep a building in like new condition and should be completed for a variety of systems, including: heating and cooling systems, safety systems, plumbing and electrical systems, flooring, equipment, pavements, etc.